California man pleads guilty for $25M college admission scam

A California man on Tuesday pleaded guilty to running a $25 million scheme to fraudulently help wealthy parents secure seats for their children at elite universities, in what prosecutors called the largest case of college admissions fraud in U.S. history.

William "Rick" Singer, Edge College & Career Network's founder, pleaded guilty in Boston federal court racketeering conspiracy and three other counts in a case that has led to charges against 49 other people, including celebrities.

"I'm absolutely responsible for it," he said in court. "I put everything in place."